Oklahoma § 70-3970.10 - Limitations
Full text of Oklahoma Oklahoma Statutes § 70-3970.10 — Limitations, with citation guidance and answers to common questions.
§ 70-3970.10. Limitations
A. Nothing in this act shall be construed to:
1. Give a designated beneficiary any rights or legal interest
with respect to an account unless the designated beneficiary is the
account owner;
2. Guarantee that a designated beneficiary will be admitted to
a higher education institution or be allowed to continue enrollment
at or graduate from a higher education institution located in this
state after admission;
3. Establish state residency for a person merely because the
person is a designated beneficiary; or
4. Guarantee that amounts saved pursuant to the program will be
sufficient to cover the qualified higher education expenses of a
designated beneficiary.
B. Nothing in this act establishes any obligation of this state
or any agency or instrumentality of this state to guarantee for the
benefit of any account owner, contributor to an account or
designated beneficiary any of the following:
1. The return of any amounts contributed to an account;
2. The rate of interest or other return on any account;
3. The payment of interest or other return on any account; or
4. Tuition rates or the cost of related higher education
expenditures.
Oklahoma Statutes - Title 70. Schools
C. Under rules adopted by the Board, every contract,
application, deposit slip or other similar document that may be used
in connection with a contribution to an account shall clearly
indicate that the account is not insured by this state and neither
the principal deposited nor the investment return is guaranteed by
this state.
Added by Laws 1998, c. 366, § 10, eff. July 1, 1998.
Frequently Asked Questions About Oklahoma § 70-3970.10
What does Oklahoma Statutes § 70-3970.10 cover?
Section 70-3970.10 ("Limitations") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 70-3970.10?
A common citation format is "Oklahoma Statutes § 70-3970.10" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 70-3970.10 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.